Market Overview:
Curing process is particularly undertaken for rubber and polymer by cross linking polymer chains and are activated by ultraviolet radiation. Curable materials have found its applications in coating, adhesive bonding, sealants, general electronics, printing, industrial, plastic bonding, and others. Industrial and commercial coatings application is a prime market for these materials. Furthermore, plastic bonding applications set potential growth in near future owing to increasing application of these materials in plastic manufacturing.
Key Players and Competitive Analysis:
Key players of the Global Curable Materials Market are Rockwell Automation, Inc. (U.S.), Rubber King Tyre Pvt. Ltd (India), Green Rubber Group (Malaysia), KEYLAND POLYMER MATERIAL SCIENCES (U.S.), Arnette Polymers LLC (U.S.), Dymax Corporation (U.S.), Shin-Nakamura Chemicals Co. Ltd (China) and others.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.
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Market Segmentation:
The global curable Materials market is majorly segmented on the basis of type, application, and regions. Market segmentation based on type include rubber, polymer and others. Curable polymer is a prominent segment accounted for majority of global market shares closely followed by curable rubber. The polymers derived after the curing process exhibit high strength properties and are highly favored in bonding application on metal, glass, adhesive, and in industrial manufacturing. Consequently, there is a relatively higher demand for such polymers as compared to rubber. Most of these polymers are single component system that require no mixing and cure rapidly at room temperature upon exposure to a UV light source as compared to conventional polymers. Curable rubber, on the other hand, is an emerging segment and is likely grow in terms of global shares over the forecast period.
Furthermore, on the basis of application global market has been segmented into coating, adhesive bonding, sealants, general electronics, printing, industrial, plastic bonding, and others. Coatings application segment dominated the global market and is likely to continue its dominance throughout the forecast period. Curable polymers driving the coatings applications due infrastructural development across the globe. On the other hand, industrial manufacturing anticipated to grow significantly owing to increasing urbanization in the emerging economies. Moreover, curable materials are increasing being referred in the plastic manufacturing as curing provides relatively tougher end product. This particular segment represents potential growth in the years to come.
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Regional Analysis:
Asia Pacific emerged as global leader in the market curable material market and accounted for 43% of global market shares as of 2016. By being a largest consumer, the region will be dominating global market over the forecast period as well. China, India, Japan, and South Korea are the key growth driving markets in this region driven by rapid urbanization and economic growth. China, particularly, represents huge automotive manufacturing base and driving significant demand for tires. This in turn has encouraged substantial regional demand for curable materials specifically, curable rubber over the past few years. By having several numbers of small scale curable material manufacturer, India represents dynamic growth in the forthcoming years.
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